The global explosive detector market was valued at $5.97 billion in 2019 and is expected to grow to$11.10 billion by 2027. The CAGR for 2020-2027 was 8.2%. Explosive detectors can be used to detect explosives and other flammable substances. These devices are often used at borders, airports, seaports and government buildings. It is essential to detect explosives at airports, seaports, and land borders to stop terrorism and organized criminal activity.
According to the explosive detector market analysis, there are four segments in the market: technology, product type and end-user. Technology can also be divided into bulk and trace types. You can further categorize the product type into vehicle-mounted, handheld and robotics. Further, the end-user segment can be classified into military, defence, cargo, transport, aviation, public spaces, and others. The market is analyzed across North America, Europe and Asia-Pacific.
Top Influencing Factors
The major factors driving the explosive detector market’s growth are an increase in terrorist activity worldwide and government regulation to improve security checks, particularly at critical locations like airports and railway stations. The market growth is impeded by improvised explosives and the risk of the device failing in public safety. The explosive detector market is expected to grow in lucrative ways if strict safety regulations exist at sensitive locations.
The following are some major factors that have an impact on the explosive detector market growth:
Are terror activities on the rise
It has become mandatory to inspect all belongings of people gathering for public meetings such as awards shows or important meetings with eminent individuals due to the rise in terrorist activity worldwide. This is done to minimize the risk of terrorist attacks if any. It is becoming increasingly important to protect those places that are most vulnerable. This has led to increased terrorist attacks every year. Explosive detectors are now widely used and accepted due to the constant threat from terrorists.
Government regulations to enhance and improve security
The market for explosive detectors is expected to grow due to the rapid development and construction of critical infrastructure such as railway stations and airports in developing and developed countries. This is due to the rapid development of infrastructure in developing countries, which will make the market even more successful.
Government funding for the Aerospace & Defense Sector
Over the last few years, there has been a significant increase in defence spending by countries like Russia, China and India. The explosive detector market is growing for various aeronautic and aerospace-related products. Air transportation will experience significant growth with an increase in air cargo. The aerospace industry must make large investments in R&D to maintain its global competitiveness. The aerospace and defence sector is experiencing an explosion in intelligence data. This requires signal analysis too quickly analyze. This sector is seeing an increase in the use of explosive detectors that can measure at higher frequencies and faster speeds for aerospace radar signal applications. This is expected to help boost the explosive detector market.
Hazards and advantages of using lasers to detect explosives and make improvised explosives
Laser explosive detectors are heavy and, therefore, do not have the stability to be used outside of field environments. Devices made from LASER technology can be too costly for field use. These detectors have another disadvantage: they can activate the explosive during the inspection. This could lead to serious consequences. Terrorist groups have modified the explosives over time so they can pass explosive detector security checks. Every terrorist organization has its explosives. Failure to spot explosives can lead to chaos and create situations that are impossible to imagine. These factors could cause a permanent market decline.
Analysis of Competition
The market leader in explosive detectors is Westminster International Ltd., Analogic Corporation, Chemring Group PLC, FLIR Systems, Inc., NOVO DR Ltd., L-3 Technologies, Inc., L-3 Technologies, Inc., Cobham PLC, Nuctech Company Ltd., OSI Systems, Inc. and Smiths Detection. These key players are highlighted in this report. To influence market growth, key players in the explosive detector market use a variety of strategies, including product launch, product development and collaboration.
The highest CAGR in 2020-2027 would be 9.8% for the Asia-Pacific region.
Key Benefits for Stakeholders
- This study includes an analysis of the global explosive detection market and current explosive detector trends. Future estimations are also included to show the potential investment pockets.
- The overall explosive detector analysis will be performed to understand profitable trends and gain a stronger foothold.
- This report provides information about key drivers, limitations, opportunities and impacts analysis.
- The current explosive detector forecast has been quantitatively analyzed to benchmark financial competence from 2019 to 2027.
- Porter’s Five Forces Analysis illustrates the power of buyers and sellers in an explosive detector.
Explosive Detector Market Report Scope and Segmentation
|UNIT||Value (USD Million/Billion)|
|BY REGION||North America, Europe, Asia Pacific, Latin America, Middle East and Africa|
Key Market Segments
- Sort by Product Type
- Vehicle Mounted
- Military and Defense
- Cargo and Transport
- Public Place
- By Region
- North America
- The Netherlands
- Czech Republic
- Rest of Europe
- Asia Pacific
- South Korea
- Australia & New Zealand
- Rest of Asia Pacific
- South America
- Rest of South America
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Northern Africa
- Rest of MEA
- North America
Key Market Participants
- Analogic Corporation
- Chemring Group PLC
- COBHAM PLC
- FLIR SYSTEMS INC
- WESTMINSTER INTERNATIONAL LIMITED.
- L-3 TECHNOLOGIES, INC
- OSI SYSTEMS
- SMITHS GROUP PLC
- NUCTECH CO. LTD.
- NOVO DR LTD.